Last week, KLCI performed quite well. There were 4 out of 5 transaction days in which the daily transaction volume exceeded 1 billion. Furthermore, KLCI successfully touched 1030-point barrier on last tuesday. And hence reached the highest level ever achieved in the recent 9 years. Finally, KLCI closed at 1040.79-point on last friday, 17 Nov 2006. All in all, KLCI had increased 18.49-point or 1.81% within the whole week. The total volume of transactions for the whole week reached 5.41 billion.
Nevertheless, there were most of the market analysts expect that profit taking corrections should arise within this week. Hence, investors are advised to be more aware in investing any stock. Because technically KLCI has seriously exceeded the overbought levels. Furthermore, there is a high posibility for KLCI to drop anytime. Hence, it’s not a bad idea for those investors who chose to enter the stock market after consolidation and pullback.
